India’s central bank has reportedly proposed that BRICS countries link their digital currencies. The goal here is to ease cross-border trade and tourism payments and reduce reliance on the U.S. dollar, Reuters reported Monday (Jan. 19) citing two sources familiar with the matter. These sources...
India’s central bank is reportedly taking a cautious stance on stablecoins and other cryptocurrencies. “Stablecoins, cryptos, they have a huge risk, and so we are adopting a very cautious approach towards it,” Reserve Bank of India Governor Sanjay Malhotra said Thursday (Nov. 20) in a...
Indian FinTech company Paytm said Tuesday (Aug. 12) that its payments subsidiary received “in-principle” authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator. The firm announced the news in a post on social platform X, saying the in-principle authorization...
Bank fraud in India nearly tripled during 2024, according to the country’s central bank. In its annual report Thursday (May 29), the Reserve Bank of India (RBI) recorded 360 billion rupees ($4.2 billion) in fraud for the year that ended on March 31, up from 122.3 billion...
September 09, 2022
In India, a broadening by the Reserve Bank of India (RBI) of the ways and means through which citizens can send money abroad will open the floodgates to FinTechs and other businesses dealing with cross-border payments. Reeju Datta, co-founder of Cashfree Payments, told PYMNTS’ Karen Webster that the central bank’s Liberalized Remittance Scheme (LRS) will […]
January 28, 2019
Barring any reprieve, Feb. 1 marks a sea change for India’s eCommerce sector. New rules may hobble giants like Amazon and Flipkart from offering discounts or investing in nascent marketplaces. Here’s why...
November 23, 2017
Anniversaries are a time for reflection, and one year into India’s grand de-monetization drive, the results are mixed. Counterfeiting activity has simply moved to embrace the new notes. GDP is...
July 13, 2017
Over the last 18 months, India has moved full-speed ahead from a nearly entirely cash-based society to one with ambitions of being totally cashless. The most public — and most famous...
April 26, 2026
Paytm Payments Bank has lost its license following years of regulatory limits on its business. The Reserve Bank of India (RBI) announced Friday (April 24) that it was canceling the license issued to the bank, an off-shoot of Indian FinTech Paytm. “Consequently, Paytm Payments Bank Limited is prohibited from conducting the business of ‘banking’… with […]
January 19, 2026
India’s central bank has reportedly proposed that BRICS countries link their digital currencies. The goal here is to ease cross-border trade and tourism payments and reduce reliance on the U.S....
November 20, 2025
India’s central bank is reportedly taking a cautious stance on stablecoins and other cryptocurrencies. “Stablecoins, cryptos, they have a huge risk, and so we are adopting a very cautious approach...
August 12, 2025
Indian FinTech company Paytm said Tuesday (Aug. 12) that its payments subsidiary received “in-principle” authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator. The...